Update on Those Damn Flipping Rules

The August 9, 2022 draft amendments to the Income Tax Act (Canada) include provisions to give effect to the residential property flipping rule first introduced in Budget 2022. If enacted […]

Interpreting Efforts Clauses in a Commercial Contract

Canadian courts have gone to great lengths to assign distinct, differing meanings to efforts clauses. The terms “best efforts”, “commercially reasonable efforts”, and “commercially reasonable best efforts” (together, “efforts clauses”) […]